Net Exhibit Space Sold in Asia Grows by 4.3 Percent in 2010
July 11, 2011
After growing through the global recession in both 2008 and 2009, the trade fair industry in Asia expanded yet again in 2010, according to the recently released “The Trade Fair Industry in Asia” UFI/BSG report.
Across the region, 15.5 million square meters were sold by organisers at 1,833 events.
China leads the region by every measure including space sold. Approximately, 55 percent of the total was sold in China – 8.5 million square meters at more than 500 business-to-business exhibitions.
This is particularly significant given that in 2005, space sold in all of Asia was just over 8 million square meters. Now just six years later, roughly that amount of space is sold in China alone.
Table 1: Top Five Trade Fair Markets in Asia, 2011
Source: UFI-BSG
The two fastest growing Asian exhibition markets in Asia last year were smaller markets, the Philippines and Macau, which posted year-on-year growth of 56 percent and 28 percent, respectively.
Taiwan and Malaysia both grew by 13 percent in 2010. Hong Kong managed a very robust 10.5 percent growth rate as net space sold increased to 870,000 square meters. Hong Kong was followed by India, which grew by 8.6 percent - accounting for more than 763,000 square meters of space sold. China was on par with the regional average growth rate – 4.3 percent.
We estimate that total, revenues from trade fairs across the region were $3.6 billion in 2010 – a 4.6-percent increase, compared with the 2009 figure. China generated $1.2 billion – about one third of the region’s total. Japan, still easily the second largest trade fair in Asia, generated revenues of $797 million. Impressively, Hong Kong posted revenues of $385 million. This represents 10 percent of the total and impressively, all of these revenues are from events held at just two venues – the Hong Kong Convention and Exhibition Centre and AsiaWorld-Expo.
Venue capacity in Asia has now reached 6.1 million square meters across 176 venues. The majority (68 percent) of this capacity is in China - 4.14 million square meters spread across 96 venues. It is worth noting that Japan, the market with the second largest capacity, has a total venue capacity of 350,000 square meters. That is 1/12th the capacity now on offer in China.
These results are part of the seventh edition of the UFI-BSG report, “The Trade Fair Industry in Asia.” A 100-plus page report analyzing the exhibition industry in Asia is available for purchase on the BSG website.
Partner Voices
MGM Resorts is committed to fostering an inclusive and diverse culture, not just among employees and guests but also within its supply chain. The company prioritizes procuring goods and services from businesses owned by minorities, women, veterans, people with disabilities, LGBTQ individuals and those facing economic disadvantages. This commitment is integral to MGM Resorts' global procurement strategy.
Through its voluntary supplier diversity program, MGM Resorts actively identifies and connects certified diverse-owned suppliers to opportunities within its supply chain. The company is on track to spend at least 15% of its biddable procurement with diverse-owned businesses by 2025, demonstrating that supplier diversity is not only a social responsibility but also a strategic business imperative.
Supplier diversity isn’t just the right thing to do – it’s good for business. A diverse supply chain allows access to a broader range of perspectives and experience, helping to drive innovation, entrepreneurship and resilience, while strengthening communities. At MGM Resorts, engaging diverse suppliers ensures best-in-class experiences for guests and clients. Supplier diversity ensures a more resilient supply chain while supporting economic development in the communities in which it operates.
The impact of MGM Resorts' supplier diversity initiatives is significant. In 2023, these efforts supported over 3,500 jobs across more than 30 states, contributed over $214 million in income for diverse-owned businesses and generated more than $62 million in tax revenue. The story extends beyond the numbers – it reflects the tangible benefits brought to small and diverse-owned businesses, fostering economic empowerment in their communities.
MGM Resorts also supports the development and business skills of diverse-owned businesses through investment, mentorship and education. Through the MGM Resorts Supplier Diversity Mentorship Program, the company identifies, mentors and develops diverse-owned businesses to fill its future pipeline, while providing businesses with tools and resources to empower and uplift. Since 2017, the program has successfully graduated 105 diverse-owned businesses and is on track to achieve its goal of 150 graduates by 2025.
MGM Resorts’ commitment to supplier diversity not only enhances its business operations but also plays a crucial role in uplifting communities and fostering economic development. This approach reinforces the idea that diversity is a powerful driver of innovation and resilience, benefiting both the company and the wider community.
Add new comment